2. Here’s where it gets tricky. You have to subtract the down payment from the total price to get the amount of the loan. You only get a loan for the amount you haven’t paid yet, so you only need $9000 more for the loan.

3. The interest equals the rate of interest times the length of the loan, or i = prt (interest = principal x rate x time). The principal, or the amount of the loan, is $9000. The rate is 14%. Forget the apr; it has no bearing on this equation. The time is 3 years (36 months divided by 12 months in a year). Therefor, the interest on this loan will be 9000 x .14 x 3, or $3780.

3. If you add the amount of the loan and the interest, then divide by 36 you end up with payments of $355 per month.

4. A finance charge is whatever the traffic will bear. If your lending institution is charging you interest and a finance charge on top of that, find another lender. You’re getting rooked, big time. Besides, if you’re paying 14% on a boat loan, you must be dealing with a loan shark. The going rate today is 6.5% or less.